Student Loan Repayment

Congratulations to all the UMBC students graduating this May! Between the graduation celebrations and planning for the next steps in your life, student loan borrowers should make time to review the information available on repayment. Yes, students the time has finally come to either begin making payments or to make arrangements to delay repayment while you pursue other enrichment opportunities.

The federal Department of Education offers several payment plans to assist student borrowers with their loan repayment. Students will enter repayment for Perkins and Stafford loans once they graduate or if they drop below half-time enrollment for a semester (typically less than six credits enrolled). Once you enter repayment, most students will be given a one-time grace period to allow them to get financially prepared to pay back the loans and to select a plan.

For more information on the repayment process, please visit: Repayment Plans vary in terms of their length and the minimum payment required according the student’s total loan borrowing. To review the repayment plans available, you may visit:

Students with private loans should contact their lender for to discuss their repayment options. Students with Perkins Loans may visit the Student Business Services Office website at for more information.

While your Financial Aid Counselor will not be directly involved in your repayment plans, please feel free to contact our office if you are unsure of where to start. The contact information for your Financial Aid Counselor may be found on our website here:

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